Ref Soyaoil On NCDEX Settled Up By 0.39% At 636.65

Ref Soyaoil on NCDEX settled up by 0.39% at 636.65 tracking weakness in spot demand on profit booking after prices remained supported supply worries. Monthly import of refined edible oil surged last month, to 2,94,409 tonnes, about 22 per cent of the overall import of 1.03 million tonnes. After a high of 245,554 tonnes in December 2016, refined oil import fell to 196,623 tonnes in January, 20-21 per cent of the entire import of edible oil.

India's oilseeds industry body has cut its soymeal export forecast by 25% from its previous outlook on appreciating rupee and a correction in global prices make Indian supplies uncompetitive. India may export 1.5 million tons of soymeal during the 2016-17 marketing year (Oct-Sep) lower from 2 million tons expected in the beginning of the season. Edible oil prices have increase over the week on anticipation that Government may increase import duty.

For Quick Trial – 8962000225 ✔ 
or mail us here:
✆ - 0731-6554125 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
NewerStories OlderStories Home